DeepOnion price dips don't scare me. Here's why
cryptocurrency·@mister.steaming·
0.000 HBDDeepOnion price dips don't scare me. Here's why
Every week we could see a rise and fall in Deeponion's price. It went up to 2 dollars, and then down 40%, then it got back up to 2.8$ and down another 30% soon after that. It spiked to 4$ this week, it crashed back at 3$, then up again to 3.8$ and finally it is down to 3$ right now, going a little slower up. You see, all of these price chagnes are very normal, because of the nature of distribution of the coin: the main culprit is ... THE AIRDROP! Every week a new batch of deeponion coins is distirbuted to the community for free through the friday airdrop and the sunday airdrop. The friday airdrop is a "dividen" airdrop. Anyone with 100 or more deeponion coins in their wallet will get some more coins. Sunday airdrop is a "bounty airdrop": people active on the forum wil lget some coins based on their activity level on this social platform. But how does this reflect on the price? It is simple. Everyweek people is getting literally free money, and a % of those peopel are just going to sell their onions and get some $$$ in exchange. It's a bad move in my opinion, as i'm holding to my little onioncoins. But this explain the dips: it's just the sellers selling their airdropped coins. If you read the market graph you can easly see how these dips occur always after a weekend. That is when people start selling their free coins. The good news is that so far i've seen the price going up everytime it gets a dip, and it gets up more than it went down. Let's see if things change after the airdrops are over, wich is not too long from now... disclaimer: this is my personal opinion and not a financial advise. i am not a financial adviser, invest at your own risk
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